The global colorants marketis expected to grow at a CAGR of more than 5% from 2017-2021, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global colorants market 2017-2021 under their chemicals and materials library. (Photo: Business Wire)
Global colorants market segmentation by type and end-user
Technavio's report on the global colorants market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by type, which includes pigment, dyes, color concentrates, and masterbatches. As projected in 2016, 48% of the market share originated from the pigments segment. This is because there is high demand for pigments from the plastics and cosmetics segments.
Based on end-user, the global colorants market has been segmented into textile, personal care, food, paints and coatings, plastics, and printing. As of 2016, 32% of the market share came from the textiles segment.
"In the textile industry, generally, dyes are used to impart colors in different fabrics such as wool, silk, cotton, linen, and rayon. The number of textile mills in APAC is growing along with the growth in the textile market. This is also boosting the consumption of dyes and fostering growth in the global colorants market," says Hitesh Bhatia, a lead analyst at Technavio for additives, adhesives, and sealants research.
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Colorants market: competitive vendor landscape
The global colorants market is one of the growing markets, with major vendors such as Clariant, Cabot Corporation, Huntsman International, BASF, PolyOne, and DIC CORPORATION. These vendors operate in an intensely competitive market with several regional and international vendors. Vendors in the market develop new technologies, innovate products, and maintain a healthy distribution web to reach out to a larger audience.
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Other topics covered in the report:
Market drivers:
- Increasing demand for plastics
- Rise in demand for paints and coatings
Market challenges:
- Volatility in raw material prices
- Stringent government regulations
Market trends:
- Increasing demand for color shades in cosmetic industry
- Increasing demand for packaged food and beverages
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